Clean Harbors buys EnviroServe for $470M to widen US waste network
What's the deal? Clean HarborsDealroom has a profile for this one. Try Dealroom → has agreed to acquire EnviroServeDealroom has a profile for this one. Try Dealroom →, a national environmental and waste management provider, for $470 million in cash from an affiliate of One Rock Capital PartnersDealroom has a profile for this one. Try Dealroom →. The transaction is expected to close in the second half of 2026, subject to regulatory approval.
The details: EnviroServe, headquartered in Sandy, Utah, serves nearly 2,500 customers through 40 locations, with permits in 48 states. Its network includes 18 10-day transfer facilities, plus solidification and railcar cleaning sites, offering remediation, industrial cleaning, and emergency response.
By the numbers: EnviroServe is expected to generate roughly $27 million in adjusted EBITDA on about $250 million of revenue. Clean Harbors anticipates $25 million in cost synergies over the first two years, putting the post-synergy multiple at about nine times adjusted EBITDA.
What's the endgame? Clean Harbors, a North American environmental and industrial services provider, wants to bolster two segments. EnviroServe's transfer facilities feed its Technical Services disposal and recycling business, while its emergency response and rail cleaning assets strengthen Field Services.
Why now? "EnviroServe is an ideal acquisition for us given its national footprint, permitted locations and recurring revenue," said Eric Gerstenberg, co-chief executive officer of Clean Harbors. The company sees "meaningful cross-selling opportunities" as EnviroServe customers gain access to its network.
The fine print: Clean Harbors plans to fund the deal through available cash and additional debt financing. Co-chief executive officer Mike Battles said the acquisition should be "meaningfully accretive to earnings and cash flow" once synergies are realised.
The signal: The deal reflects continued consolidation in North America's environmental services market, where permitted disposal capacity is scarce and hard to replicate. By absorbing a rival with recurring revenue and a long-tenured customer base, Clean Harbors is buying reach and throughput rather than building it.
Read more: MarketScreener
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